Torbey, left, is the incumbent, but Sfeir is said to feel it’s time for a change.
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Will the Association of Banks in Lebanon witness its first elections for a new president after 20 years of conciliatory agreement on the candidate, or will the powerful association renew the two-year mandate of current President Joseph Torbey uncontestedly?In principle, Torbey's term ends on June 29, and traditionally the main banks or the big players discuss the name of any candidate who enjoys the support of most members of ABL's general assembly without the need for voting. Torbey, a veteran banker with wide connections with regional and international banks as well as decision-makers in Washington, has succeeded in previous years of securing support from many of the leading bankers who were quite comfortable about his performance. However, this time Sfeir is keen to run for the post even if Torbey insists on seeking a second term in office. Sources close to Sfeir said the candidate intends to announce his list, which is composed of large, medium and small banks in the country.
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